Central Securities Corporation Announces Issue Price of Shares for Distribution Payable December 21, 2016
December 01 2016 - 4:45PM
Business Wire
Central Securities Corporation (NYSE MKT:CET) announced today
that the price at which Common Stock will be issued in payment of
the $0.78 per share distribution payable on December 21, 2016 is
$21.42 per share. This price is the arithmetic average of the daily
volume weighted average price (“VWAP”) of the Corporation’s Common
Stock for each trading day during the three-day period ending on,
and including, December 1, 2016, rounded to two decimal places. The
distribution was previously announced on November 3, 2016 and is
payable to shareholders of record on November 14, 2016.
Of the $0.78 per share to be paid, $0.26 will be taxable as
ordinary income (including $0.10 from short-term capital gain) and
$0.52 will be taxable as long-term capital gain. Tax treatment will
be the same whether the distribution is received in stock or cash.
The final tax breakdown of all amounts paid during 2016 will be
available after year end.
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Central Securities CorporationMarlene A. Krumholz,
212-698-2020Secretary
Central Securities (AMEX:CET)
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